Deccan Chronicle slips into loss of Rs 100 cr in Sept qtr

​Secunderabad-based Deccan Chronicle Holdings (DCHL) has continued to bleed in the quarter ended 30 September. The company posted a net loss of Rs 100.05 crore against net profits of Rs 21.09 crore in the corresponding previous quarter.

The company's net sales during the July-September period declined 37.27% to Rs 141.67 crore compared with Rs 225.81 crore in the same quarter last year.

On the BSE, shares of the company plunged 4.95% and are trading at Rs 5.57 currently.

The earnings per share (EPS) for the quarter stands in the negative territory of Rs 4.79 while it was 96 paise in positive zone in the corresponding quarter last year.

In a statement, the company said that some of the lenders of the company have initiated legal actions and winding up petitions for recovery of loans at different forums and have classified financial facilities extended to the company as non-performing assets. "The company has not made provision for the accrued and unpaid interest as the company is negotiating with the banks for restructuring of its liabilities," the statement added.

In April-June quarter too, company had reported a massive net loss of Rs 166 crore.